Arby’s announces franchise deal in Tampa, Florida
Brand Continues Growth & Development Momentum
Arby’s Restaurant Group, Inc., franchisor of the iconic quick-service sandwich chain with more than 3,400 Arby’s restaurants worldwide, announced the sale of 14 company-operated restaurants in Tampa, FL, to an active and growing restaurant developer committed to investing in and growing the Arby’s brand.
Mosiac Investments, Inc. (Mosiac), a fully integrated investment firm based in Atlanta, purchased 14 restaurants from Arby’s Restaurant Group, Inc. that currently employ more than 250 employees. In addition to remodeling existing locations slated to commence at the end of 2014, Mosaic has committed to build 13 new Arby’s restaurants in the Tampa area over the next nine years. Mosaic’s and its investment partners’ portfolio includes multi-unit operations for Moe’s Southwest Grill, Sprint PCS, Metro PCS, and Exxon Mobil across the Southeast and Texas.
A new franchisee to join the Arby’s family, Murad Karimi is the Managing Partner of Mosaic Investments and was named 2011 New Franchise Partner of the Year for his management of multiple Moe’s Southwest Grill restaurants in the greater Atlanta area.
“The future has never been brighter at Arby’s. Arby’s outperformed the QSR industry in same-store sales last year by 2.6 percent and we continue to see strong momentum with our franchisees,” said Paul Brown, CEO of Arby’s Restaurant Group, Inc. “Mr. Karimi brings tremendous food industry experience and the right development capabilities to help us usher in an exciting era of continued growth and development for the brand.”
The law firm of Hill Ward Henderson represented Mosaic Investments in the transaction and financing is being provided by Ameris Bank.